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SAP Announces First Quarter 2013 Results – Non-IFRS Software and Cloud Subscription Revenue Increased 25% at Constant Currencies
 

DUBAI, United Arab Emirates — April 21, 2013 - SAP AG (NYSE: SAP) today announced its financial results for the first quarter ended March 31, 2013.

First Quarter 2013 Non-IFRS Software and Cloud Subscription Revenue Increased 23% to €824 Million (25% at Constant Currencies)

First Quarter 2013 Non-IFRS Software and Software-Related Service Revenue Increased 12% to €2.94 Billion (14% at Constant Currencies)

13th Consecutive Quarter of Double-Digit Growth in Non-IFRS Software and Software-Related Service Revenue
Exceptional Growth for SAP HANA: SAP's Flagship In-Memory Platform Tripled Software Revenue Year-Over-Year
Strong Cloud Momentum: Annual Cloud Revenue Run Rate Approaching €900 Million
First Quarter 2013 Non-IFRS Operating Profit Increased 8% to €901 Million (11% at Constant Currencies)
First Quarter Non-IFRS EPS Increased 18% to €0.58
SAP Reiterates Full Year 2013 Outlook

Business Highlights in the first quarter 2013:

SAP had a solid start to 2013 with 23% (25% at constant currencies) growth in non-IFRS software and cloud subscription revenue. SAP achieved €824 million in non-IFRS software and cloud subscription revenue in the first quarter.

The Americas region delivered a strong first quarter, with non-IFRS software and cloud subscription revenue growing by 49% (51% at constant currencies), driven by excellent software revenue performance in Latin America and strong cloud subscription and support revenue growth in North America. The EMEA region saw solid growth of 13% (15% at constant currencies) in non-IFRS software and cloud subscription revenue, which is impressive in light of continued market uncertainty. Strong year-on-year software revenue growth rates in many markets including Russia, Switzerland, and the UK contributed to this performance. Non-IFRS software and cloud subscription revenue in the Asia Pacific Japan (APJ) region declined, as several markets in APJ started more slowly in 2013 after a record fourth quarter in 2012 and new leadership in some markets. The company expects the APJ region to be back on track in the second quarter.

SAP HANA continues to be a major growth engine for SAP. SAP HANA software revenue tripled year-on-year, contributing €86 million to software revenue this quarter. The company also continues to expand its market leadership with strong double-digit growth in its mobile business.

The Company sees continued strong growth in the cloud. With the most comprehensive portfolio of cloud solutions, SAP's annual cloud revenue run rate is approaching €900 million1. First quarter 2013 Non-IFRS cloud subscription and support revenue was €167 million, up 380% year-over-year. Non-IFRS deferred cloud subscription and support revenue2 was €377 million as of March 31, 2013, which is a year-over-year increase of 95%. The Company's cloud subscription and support backlog3 as of December 31, 2012 was €800 million. SAP's cloud applications total subscribers now exceed 24 million. For the Ariba segment the trailing twelve month network spend volume4 was approximately $460 billion. More than 1 million companies are connected through the Ariba network, the world's largest Web-based business trading community.

“Our industry is at a fundamental transformation point, driven by the convergence of mobile, cloud and big data. SAP's 25% growth shows that we are not only leading this change but also gaining significant worldwide market share,” said SAP Co-CEOs Bill McDermott and Jim Hagemann Snabe. “Customers continue to choose our innovations to help them run better, and SAP HANA is the next-generation platform for all companies to innovate their business, drive speed across the entire enterprise and reduce costs. SAP's pipeline is strong, and we are confident that we will achieve our full-year outlook.”

“Non-IFRS software and cloud subscription revenue exceeded €800 million for the first time in a first quarter. We saw very strong revenue contribution from SAP HANA and continued growth in the cloud. The solid top line performance and continued cost discipline resulted in double-digit growth in Non-IFRS operating profit at constant currencies,” said Werner Brandt, CFO of SAP. “We are on track to deliver on our 2015 goals and our overall financial objective of profitable growth over the long term.”

1) The annual revenue run rate is the first quarter 2013 cloud division revenue multiplied by 4.

2) Starting this quarter SAP is disclosing non-IFRS deferred cloud subscription and support revenue, which is a subset of the total non-IFRS deferred revenue number reported on the balance sheet.

3) Cloud subscription and support backlog represents expected future cloud subscription and support revenue that is contracted but not yet invoiced and thus not recorded in deferred revenue.

4) Network spend volume is the total value of purchase orders transacted on the Ariba Network in the trailing 12 months.
- Ends-

 

 


Posted by : Dubai PR Network Editorial Team
Viewed 10571 times
PR Category : Technology
Posted on : Sunday, April 21, 2013  5:46:00 PM UAE local time (GMT+4)
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